San Fran Condo sells for about half of its price in 2019 reflecting a tanking market

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Amid declining real estate values, a condo in San Francisco’s troubled Tenderloin district recently sold for half its 2019 purchase price. This stark drop, from $1.25 million to just $675,000, highlights deeper issues within specific micro-markets of the city, known for their challenges including high homeless rates and drug problems. Despite low interest rates during the pandemic boosting nationwide property values, San Francisco’s real estate has not recovered, influenced by high commercial vacancies and a significant percentage of properties selling at a loss. This localized slump in the Tenderloin contrasts with national trends where limited supply maintains home values.

#SanFranciscoRealEstate #TenderloinDistrict #HousingMarketCrash

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π—§π—œπ— π—˜π—¦π—§π—”π— π—£π—¦
00:00 – California condo plummets
02:06 – Market Street examined
04:09 – Tenderloin’s market stigma
06:12 – San Francisco property woes
08:15 – Builder’s market reflections
10:16 – Appraisal anxiety revealed
12:16 – Real estate pricing strategies
14:19 – Inventory scarcity highlighted
16:07 – Market price correction
18:24 – Homeless encampments impact
20:27 – San Francisco market analysis
22:31 – Downtown appeal diminishes
24:17 – Property overpricing consequences
26:07 – Californian exodus effect

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